Best CD Rates in Los Angeles, CA: Top 3

October 5, 2009 No Comments »

Below are the highest yielding CD (certificate of deposit) rates available to the residents of Los Angeles, CA. These come in the form of 6 month CDs, 12 month CDs and 24 month CDs. After sorting through dozens of rate pages by local community banks and credit unions serving the city of Los Angeles as well as the state of California, we found that for the most part, you will be able to receive slightly better rates with local institutions than with national ones.

Keep in mind interest rates are time-sensitive in nature, so you will want to refer to the date of this article for accuracy. To get the most CD current rates from national banks, compare CD rates nationwide. 

How did we compile this list? As you are probably aware, higher CD rates tend to accompany longer maturities and since we did not want to strictly list long maturity CD’s we decided to list the deposit rates which beat the national average by the highest margins.

Best 6 month CD rates in Los Angeles, California:

  • United Pacific Bank has a 6 month CD yielding 1.88% APY with a minimum deposit of $2,500 required. They have locations throughout the general LA area, primarily operating out of Monterey.
  • Hanmi Bank has a 6 month CD yielding 1.86% APY with a minimum deposit of $1,000 required. They have locations in both LA and Gardena, CA.
  • California Business Bank (Los Angeles branch) has a 6 month CD yielding 1.77% APY with a minimum deposit of $10,000 required.

Best 12 month CD rates in Los Angeles, California:

  • Baxter Credit Union has a 12 month CD yielding 2.50% APY with a minimum deposit of only $50 required. Baxter CU primarily operates out of Los Angeles, however membership may be difficult to obtain.
  • American Airlines Federal Credit Union (Los Angeles branch) has a 12 month CD yielding 2.12% APY with a minimum deposit of $10,000 required. 
  • First Entertainment Credit Union has a 12 month CD yielding 2.09% APY with a minimum deposit of $1,000 required. They have locations (either physical branch or ATM) in the greater LA area, but primarily operate out of Hollywood, CA.

Best 24 month CD rates in Los Angeles, California:

  • Mutual of Omaha Bank has a 24 month CD yielding 2.35% APY with a minimum deposit of $1,000 required. They have locations in Los Angeles.
  • Imperial Capital Bank has a 24 month CD yielding 2.33% APY with a minimum deposit of $2,000 required. This branch is located in Beverly Hills, CA.
  • State Bank of India (formerly IndyMac) is headquartered in LA and is offering a 24 month CD yielding 2.30% APY. This is a national bank and can accept deposits from customers nationwide.
All of the above institutions are federally insured by either the FDIC or NCUA. If you live in the city of Los Angeles, CA and know of a better interest rate offered through your local bank or credit union, please share by leaving a comment.

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